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WorksheetsAssessment Test
Total questions: 25
Worksheet time: 25mins
What is a business owned and operated by one (1) person?
Sole Proprietorship
Partnership
Corporation
All of the above
What is a business owned by stockholders/shareholders but operated by others?
Sole Proprietorship
Partnership
Corporation
All of the above
What is a the minimum and maximum number of people for partnership?
1 - 20
2 - 20
1 - 50
2 - 50
What of the following are advantages of a sole proprietorship?
You make ALL the decisions
Keeps all profit
Easy to start
Unlimited liability
Which of the following is/are the disadvantage(s) of Sole Proprietorship?
Unlimited Liability
Disagreements
Hard to raise money
Make all the decisions
A company wants to expand its business to another country therefore It issues public shares to raise additional funds.
Sole Proprietorship
Partnership
Public limited company
Private limited company
North America Free Trade Agreement (NAFTA) between
Mexico
America
Canada
Bahamas
Tariffs and Quotas can benefit nations imposing them by...
Raising government revenue
Limiting Import goods
Help local business to grow
All of the above
The dollar strengthens.
appreciate
depreciate
A person who takes a risk to produce goods and services in search of a profit is a/an __________________.
entrepreneur
school teacher
travel agency owner
All of the above
Sending goods to another country to sell.
Import
Export
Why WTO encourage free trade?
Raising living standards
Promote healthy competition
Encourage world peace
All of the above
Involves a business owner who licenses trademarks and methods to an independent entrepreneur.
Co-operative
Corporation
Franchise
Sole Proprietor
Franchisor and Franchisee are the same company
True
False
What/who is a franchisee?
An entrepreneur whose power is limited by a contractual agreement with a franchising organization. Where a business sells the rights to their brand.
Involves a business owner who licenses trademarks and methods to an independent entrepreneur.
Party in contract that specifies methods to be followed/terms to be met by the other party.
None of the above.
The Franchisee CANNOT benefit from using the brand name of the Franchise, as well as advertising and marketing.
TRUE
FALSE
A Franchisor has total control of their business
TRUE
FALSE
Q2. Which fast food restaurant is famous for its Golden Arches?
McDonald's
Burger King
Sugar Bun
Uncle Ben's Burger
Choose Yes if it is a franchise.
Choose No if it is NOT a franchise.
Yes
No
Choose Yes if it is a franchise.
Choose No if it is NOT a franchise.
Yes
No
Who own the McDonald's master franchise in Malaysia?
McDonalds Sdn Bhd
Golden Arches Restaurants Sdn Bhd
McDonalds Pte. Ltd
McDonalds America
Trade surplus
Export is more than Import
Import is More than Export
Import equals to Export
Export equal to Import
The following is/are the advantage(s) to start franchise.
Proven line of business
Training support
Financial assistance
All of the Above
Which of the following is not a factor of production?
Land
Labour
Airport
Capital
when one nation can produce a good at a lower cost than another
Competitive advantage
Comparative advantage
Absolute advantage
None of the above
